Karma Group is eternally indebted to His Royal Highness (HRH) Prince Namgyel Wangchuck for his farsighted and visionary leadership. The birth of Karma Steel and Wood Industry in 1969 is a result of the auspicious combination of extraordinary leadership and an emphasis on private sector development at such an early stage of Bhutan’s modernization. Today, as Karma Group celebrates 50 years in business and as we reflect on this fulfilling journey, we are constantly reminded of the enlightened leadership of HRH Prince Namgyel Wangchuck, the then Minister of Trade and Industries, who is in more ways than one, a true architect of Bhutan’s private sector.
HRH Prince Namgyel Wangchuck believed that trade, business, and manufacturing industries played an important role in building a robust economy. It was this vision that inspired a small yet important step towards building Bhutan’s first industries, agro-businesses, retail outlets, hotels, and manufacturing units. The Royal Government supported a few entrepreneurs then to start their businesses. It was at this time, the Founder of Karma Group, Dasho Passang Dorji, received a loan of Nu 30,000 to kick start his first major venture – Karma Steel and Wood Industry. Over the past 50 years, Karma Group has diversified into trading, manufacturing and mining businesses.
In keeping with HRH Prince Namgyel Wangchuck’s vision that private sector plays an important role in the country’s socio-economic development, Karma Group continues to play its part in stimulating growth by creating business opportunities, meaningful jobs for Bhutanese people, and doing businesses that enable Bhutanese people to harness their full potential. All of these initiatives have been possible because of the blessings of HRH Prince Namgyel Wangchuck.
As we complete a historic milestone, the Karma Group Family and all the employees offer our heartfelt gratitude to HRH Prince Namgyel Wangchuck for inspiring and guiding us through the uncharted waters, for believing in our abilities,and above all, for being a lighthouse of hope.